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Get the most out of property inspections

Purchasing a property is likely to be one of the biggest and most expensive decisions you will ever make. As such, it is not a decision you should take lightly.

Purchasing a property is likely to be one of the biggest and most expensive decisions you will ever make. As such, it is not a decision you should take lightly.

There are countless steps you need to take before buying property.

One of the first steps you will undertake in your home buying journey is property inspections.

Inspections give you the chance to find out as much as possible about the property's condition before signing any binding contracts.

Of course, to make the most of your property inspection, it is critical that you are prepared. Before inspecting the property, you should take the time to outline exactly what you need and want from your future dwelling.

Do you need three or four bedrooms? Would you like a garage for your car and/or a backyard in which your dog can run around?

While your future property might not meet all of your requirements, it should tick a significant number of boxes.

To ensure the property/ies you inspect actually meet your needs, you may wish to take a checklist and a measuring tape to every ‘open for inspection'.

Your checklist should include a breakdown of every room in the house including living areas, kitchen and bathrooms. If relevant, don't forget the garden and pool. Ask yourself: does the pool have a fence around it? Will the garden require regular maintenance?

You can then use your tape measure to see if your appliances and furniture will fit in the new home. Don't be shy, open cupboards and draws and check their condition. If you don't open the wardrobe, how will you know if your clothes are going to fit? Don't walk on eggshells, get in there, get your hands dirty, and make sure the home suits your needs.

To access our detailed property checklist, click here.

Once you have found a property that meets most/all of your needs, it is important to revisit the home multiple times.

Try to inspect your desired property at different times of day and (where possible) in different weather conditions so you can see how the house will feel at all times of the year.

If you know your preferred property is going to attract a lot of interest and be flooded with potential buyers during the allocated inspection time on the weekend, try visiting the property during the weeknight ‘open home'. Not only will you have to battle fewer people, but you will be able to see what the home looks like at night.

It is also important for you to write down any questions you may have regarding the property and then take the time to quiz the real estate agent.

For example, if you are buying a unit, ask the agent whether or not the strata rules will allow you to have a barbeque on the balcony.

Whatever you want to know, note it down and take the time to ask the questions. After all, if you don't ask, you will never know.

If you have any more questions about property inspections and what you should expect during this part of your home buying journey, give your local Mortgage Choice broker a call today.

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Posted in: Home loans

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